Stocks edge higher as budget talks move ahead

AP News
Posted: Dec 18, 2012 9:45 AM

NEW YORK (AP) — Stocks are opening slightly higher on Wall Street as both sides make concessions in budget talks in Washington.

The Dow Jones industrial average rose 17 points to 13,252 shortly after the opening bell Tuesday. The Dow rose 100 points the day before.

The Standard & Poor's 500 index rose two points to 1,432 and the Nasdaq composite rose 10 to 3,020.

President Barack Obama offered to raise the income level at which higher tax rates would kick in and lowered his 10-year goal for increasing tax revenue. That followed an offer from House Speaker John Boehner to raise taxes on the wealthy.

Radio ratings provider Arbitron jumped 24 percent after the company agreed to bought by Nielsen, the television ratings service, for $1.3 billion.